A major commercial property development in Yorkshire has been given the go-ahead to continue following the successful procurement of funding.
Halifax’s Broad Street Plaza Development, which is worth £50 million and will include offices, a restaurant, a cinema and a 100-bed hotel, had stalled due to a lack of funding.
The development has already been 70 per cent pre-let and stands to create more than 400 jobs – which have been welcomed by the local community.
Construction can now continue after it managed to recently secure vital funding worth £35 million from Santander Corporate Banking.
Further funding for the development has been provided by regeneration agency Yorkshire Forward and other partners.
Commenting on the recent developments, David Brimblecombe, managing director of Gregory Projects, said, “To secure a funding deal of this size on a major mixed use scheme in the current climate is fantastic news and a very positive message for the region.”
Work on the site has begun and the development is expected to be completed by March. It is hoped the project will bring an additional £8 million per year to the town’s economy.